New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-16
TILE LITE SECRETART.

tents had one member who helped him, and Mr..
Manning has retired 1t matters not now
whether Mr.. Jordan, by his suggestions and
influence, gave the Treasury what success it
attained. for he has left also or is about to
leave; the Siamcso twins of finance see largo
opportunities elsewhere, but in the Treasury
they have gained all the reputation it was pos
Visible for them to gain. Public confidence has
begun to wanc, while the hostility of Democrats
in Congress WAKES ficrccr. 1t was wise time
for them to retire but what do they leave be-
hind 7 The President has an incompetent Sec
retary of State with British leanings; dis
praccd Acknowledgement Secretary OF War
who has yet to put significant figure before
or after long row of ciphers; Secretary OF
tho Navy who bankruptcd and killed John
Roach, and paid great price for worthless
plans from England Postmastcr-Gcneral who
cripples American commerce and n Secretary
Of the Interior who keeps about him Pan-Elec-
trio corruptioniss, post-tradng blackmailcrs.
land-stcaling dcnounccrs Of fraud. enemies and
plundcrcrs Of honest settlers, and Physical
Wreck Black. 1t is evidence Of the shrcwd-
ness of tho Siamcse twins that they get out OF
this company.
IT ia true Mr.. Mannings position has been
difficult and hopeless one from the first. lie
was a Ncw-Iorll banker, and therefore hated
by his party-cxccpt when 1t wanted campaign
funds lie had some sense about silver, and
that was q crime He was an uncompromslng
free Trader, and his party wanted to cheat both
sides on that question. lie candidly believed
in the spoils system, and the President be-
licvcd in Reform hypocrisy, with party and
personal machines, ncpotlsm and Jobbcry, ali
under matches. Such n Secretary, IN such a
prcdicamcnt, conld get reputation only by CON
,rast-only by stifly advocating what he had
no power to accomplish. This Mr.. Manning
did. and he brought shame upon his party by
sensible proposals. and in the matter OF refusal
70 state reasons for removals, also upon the
President himself, who wanted TO play the
hypocritc when Manning saw 1t was iolly' In
,irclv impotcnt TO get legislation modified to
suit his policy. the SECRETARY could not ionE
have conducted the finances so as to retain
pnblic confidence. For six weeks silver mas
been gathering in the Treasury, and gold bcginS
10 90 ont of the country He therefore rctlres
from n hopeless task in good time for his own
reputation.
When the financial course Of The Secretary
and Treasurer is closely examined, II is seen
that their reputation rests entirely upon wha,
they recommended. II was well for them thai
neither friends nor foes realized how nearly
they were powcrlcss to do anything OF real ser
vice. They voluntarily deprived Themselves oil
more than half the power they had, when they
construed the law to permit issues OF ccrtiii-
cafes upon constructive but not actual deposits
Of silver. The refusal TO issue at distant points
against deposits here they abandoned when II
bccamc necessary to ponr out money iiccy III
tho fall TO create confidence, and therefore the
Treasury had TO borrow money at Ncw-l ork
bv the issue of certificates elsewhere. Revival
Of trade, and large purchases Of securities on
foreign account, have gwen the treasury
greater strength during the last year, just n
contrary conditions made it weaker during me
first wear of this Administration. But nothing
mas been accomplished 20 avert or remove the
dangers which both President and Secretary
have repeatedly depicted in vain. 1t remains
TO h, seen what any new Secretary can do he
ginning with nm cbbing tide of gold, and re-
action from the partly fictitious announcement
and activity caused by the expansion oil cur
rcncy LlSt fall.